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tv   After the Bell  FOX Business  August 20, 2014 4:00pm-5:01pm EDT

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liz: intraday not exciting but what a run-up for the year. >> absolutely. 25%. [closing bell ringing] david: carl icahn announcing a stake in hertz. that is one reason it is doing so well. liz: certainly coming up off the lows because it was just prostrate on the ground. bells ring on wall street. you heard them. look how the stocks are finishing up. nasdaq could not quite make a gain of it, down one point. russell too struggling. look at s&p 500, we do not make the all-time record close at least at the moment as numbers settle, 1987.9. we're at 1986.52 you can't see the screen because you're driving listening to siriusxm. welcome to "after the bell." we're starting right now. >> what a wild day. first we couldn't figure out what the fed did. we couldn't figure out what
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markets will end up. they did end up positive on the dru. get to today's market action. charlie smith, fort pitt capital group chief investment officer. teddy weisberg in a moment. todd horowitz joining us now from the cme. todd, it is wednesday. this is another todd booming wednesday. it is sort of getting speakky. you're the biggest bear i know, every time we have you on the market is up. >> you know, hi liz, hi dave. look it, it will go up because i'm here. i wrote to you we would be down in the morning and by time i got on we would be record highs. here we are once again. this rally i see right now i don't give a lot of credibility at top. only reason volume is light and did you markets -- liz: come on. will come to chicago and whack you? >> overall rally is good. talking about latest bid. i'm not talking about -- still bearish. i still think we're way
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overdone. i think the fed way overstepped their bounds. that being aside, not at all surprised with the light volume, dull markets. dull markets rally because pension and ira money coming in to buy. david: good point. >> look at the bond market. bond are awfully strong here. look at the u.s. dollar. those are warning signs. those are divergences. last thing i mentioned, berkshire hathaway, if you compare berkshire does to the general market, when berkshire is outperforming s&p that typically means we're coming to near-term top. right now berkshire is outbombing the s&p. david: that is interesting indicator. -- outperforming. >> when people want to risk they're willing to buy berkshire. when they don't want to risk, go to berkshire. when they have risk appetite, they go on their own. liz: teddy weisberg, you ran to our capras. he is catching his breath. i'm really interested to know,
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what you made what i've been calling all afternoon a fascinating market reaction. i think good news, good news. fed is finally discussing tightening rates. that means the economy is looking better or good news they say as part of monetary policy pillow plumping up this market? >> well, listen, we talked about this for the last six months, liz. i mean the fed in my opinion is 800-pound gorilla in the room, when rates move higher i think negative for the market. clearly doing an excellent job dealing with investor expectations for the moment anyway. until it actually happens, we don't know when that is going to be. perhaps we're still in this little bit of a positive bubble. david: i don't know how about excellent. far be it from me to disagree with teddy. teddy, you're wisest man i know on the floor there but, charlie smith, if you look at market action you could tell what is happening in the fed.
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there no unanimity in the fed at all. there was one little word in there about debate among the members of the fed in terms when rates should go up. that was enough. show the day-to-day tick what is happening with the dow. we saw it on the dow. saw it on nasdaq. saw it on zap. we had this downturn. you see a big v in the market today. that was when there was a lot of indecision about what the fed meant. is the fed clear for you, charlie or not? >> when we get less unanimity in the fed, the odds of a rate change, in this case an increase, go up. so timing, nobody knows timing. we're in the sweet smart when the fed decides to move on rates and economy is getting better so enjoy it while it lasts. david: how long do you think it lasts? >> well, we've got qe ending in october. you know the consensus pretty much says rates move up mid second quarter next year. if bank lending, our key is bank lending. if we start to see
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year-over-year loan growth push through 10% for the top 20 banks, that will be a signal to us that the fed is getting red did he to move. liz: todd, we had jon hilsenrath of "wall street journal" he has a real direct line to a lot of what the fed is going to say. he says this is no big deal for the markets. he thinks, he specifically said, and he talks to a lot of these people off the record but he specifically said the fed wants the data to start looking better. here comes the question, david who invests in all fixed income says, what happens if labor numbers, numbers start to look really good, a build of more than 250,000? then do we start to have to worry about rates tightening end of 2014, versus second month or third quarter, whatever of 2015? >> i think it is, if that is really good as everybody is,
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although we're getting more jobs, look at jobs broken down and participation rate only 59%. if it is good and continue to grow and everybody is telling us way it really is, rates could come up in the fourth quarter. that would be more of a positive sign. if we can support higher rates in this market, and do without the fed, and start to see real lending, where small business can borrow, small business lend something down 25% since 2008. and down 30% since 2005. if we can start to see support and get lending, interest rates higher would be better. liz: sorry to interrupt. adam shapiro, hpq. >> i want to go straight to revenue. it is a big revenue beat. 27.01 billion street was expecting. 27.6 billion. earnings per share in line with expectations. street was expecting 89 cents. printing revenue down 4% year-over-year with 18.4% operating margin.
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personal systems revenue up 12% year-over-year with a 4% operating margin. commercial revenue increased 14% and consumer revenue increased 8%. back to you. david: there is question about how much cash is being generated, cash flow from operations. that might be a little bit of a concern as you look at it, about, about equal after hours. i want to go back to teddy weisberg. hewlett-packard is not doing much. we'll talk a little bit more about the fed. jon hilsenrath thought the market made a mistake. the market misread what is going on inside of the fed, that in fact the fed is a a little less sanguine about things than a lot of people think. bottom line he thinks they may be raising rates sooner than later. and therefore the market shouldn't be quite as happy from the notes as they ended the day. what do you think? >> i had dinner last night with somebody who, i think really plugged in and talking to a lot
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of people and they don't think interest rates are going anywhere until early 2016. david: '16? '16? >> david, david, listen to me for a second. david: wow. >> '16. david: holy cow. >> the point is this, nobody knows. we're all sitting around trying to read the tea he leafs. david: that's true. >> the fed talks fed speak. when the fed will raise rates they will raise rates if we have any luck they will tell us before they do that. they sort of indicated they will do that but until then we're on hold. like we're all trying to pick bottoms and pick tops and when they are going to and. david: right. >> i don't think the market lies. i don't think the market has it wrong. i think market tells us interest rates are going nowhere and market is going higher. david: brilliant. liz: if that is true you have three names that you believe can capitalize on rising tide.
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boeing, honeywell, parker hand fan. these are big industrials make all kinds of things. i look at parker hand fan, this is quiet by exciting stock to me. >> terrifically well-managed company. they're going through one of the biggest restructurings in the history of the company. they warned the street there will be significant chars but every time they have done this in their history they have been able to pull their costs down significantly and notch performance. this ister riskily managed business. david: teddy weisberg, thank you so much. charlie smith. thank you. todd horowitz we'll see when you the s&p futures close in a moment. despite global hot spots the weak growth and fed unwinding purchases. s&p hitting 27 record highs this year. so are stocks finally getting expensive? we'll be asking a man who says yes. nobel prize winner robert schiller will be joining us live next. liz: barnes and noble throws
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down the electronic gauntlet, partnering with samsung on the brand new nook e reader. fox business at unveiling in manhattan, exclusively to tell you the new tablet, what it looks like, why i believe, because i was there, it is something that may start to make some of the other e readers nervous. we have a fox exclusive, barnes and noble ceo coming up on this. david: it has got three wheels and one door and unbelievably low price. we're talking about the elio car, hasn't hit the market but already has 28,000 reservations. we will talk to the ceo. is the market overly optimistic about the fed rate policy. teddy says no. believes the market, not rumors. tweet us @fbnatb. your answers coming up. ♪
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liz: teen retailer american eagle getting a big boost today, closing up 12%. david: let's head back to nicole petallides on floor of new york stock exchange. i don't know, they're very fickle these teen stocks. >> they really are. you never really know what the teenagers want to shop for in the first place, coupled with a tough economy. also we've had the winter weather people are trying to get out of that tough era, during
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that time. look here. american eagle is up now about 12% at the moment, as it closed. they came out with second-quarter earnings and sales stopped analysted estimates. really, i think people thought it would be a lot worse. in fact they did better with the seas and profit higher than expected. second quarterly profit. other thing was the inventory. you know what? they got rid of a lot of inventory. that was good news. of lastly the forecast going forward. they forecast 17 to 19 cents a share. that 19 cents was at least above the analyst estimates. that is good news for american eagle. there is a nice three month chart. there is the pop there with that big move. thank you. liz: thank you so much, nicole, s&p futures are closing right now. let's head back to todd horowitz at the cme any indication at all what might happen tomorrow, todd? >> well there is a little bit of selling pressure here into the close. the nasdaq futures are now up nine days in a row. everything is waiting to see what janet yellen says on friday
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morning at 9:00 a.m., whether she cops out hawk or dove. if she talks hawkish we'll see selling. if she is dovish we'll see pub up. bottom line we wait to see what happens friday. you will of this is bunch of noise waiting to hear what the fed will say and central bankers around the world have to say. david: have you ever heard her talk hawkish? i never heard her talk hawkish in my life? >> she made one slip-up a while back. came out and corrected it right away. no, she is a dove. i mean that is her mo. she is a dove and that's it. liz: we will see friday though. more to come. peter barnes is there in jackson hole. thanks, todd, good to see you. david: thank you, todd. the markets come a long way since the bottom of the bear market in 2009. the dow, look at this, risen 159%, while the s&p is up 192%. liz: while some think the bulls can keep control, one nobel prize winning economist says this market is now officially overvalued. he is called it right before. with us, robert schiller, yale
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university professor of economics and author of, finance and the good society. and a as we said, can't say it enough, robert, nobel prize winner. great to have you on. why officially now? we're up triple digits here and there, percentages for several months now, when it comes to coming up off the march 9th, 2009 bottom. tell me why you feel that now? >> yeah. well, i wrote a column about this a year ago. my price-to-earnings ratio was 23 then. now it is 26. maybe in another year it will be 29. i will right another column. i don't know how to predict turning points. it got you will up the way to 44 in the year 2,000 before it crashed. liz: but you don't know how to predict turning points. you still feel it is overvalued? >> yeah. liz: should people get out of stocks now in your opinion? >> i don't know about right now. what i've discovered, with work with john campbell is that when
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our cape pe is elevated like this, the market generally does poorly over the next decade. the might go up for a while. but on average it won't do as well. but that doesn't mean you want to get out of the market. i'm not out of the market. i don't think one should get out of the market. i'm not giving any doomsday scenario. bond yields are low too as you know. david: now, one thing that is very different from past periods, at least for the past 35 years going back to 1980 is that interest rates have been maintained artificially i would say, i think would people like richard fisher, at zero percent. whenever you have a sustained period where interest rates are below the rate of inflation savers are getting killed because savers if they sit around and keep their money sitting around getting chewed away at 2% a year. that can not be sustained with a good economy for long, can it? >> well, i don't like the word artificially. i mean it is like, when you take
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penicillin, that is artificial too i think. david: by the way, hold on a second, keeping your analogy consistent, if you take too much penicillin you can do. there is a problem with both. >> yeah. david: as richard fisher said we've been on this medicine too long. what do you think? >> well of course, that is what they are talking about at jackson hole. david: i know, what do you think, robert schiller? >> yeah. well the thing that, that i find puzzle something not the fed, it is the public. and how they can price long-term bond so high. it looks almost like another bubble. it is not exactly the same as stock market bubble. it is driven by fear maybe or conservatism or something but people are willing to, you know, with a, t-bill rate under 2 1/2% and inflation target at 2%, they're willing to take nothing for a 10-year investment. david: i have to press you on
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this, robert schiller. is the medicine been applied for too long a period? will it have consequences that could be harmful for the economy? >> well i think there is reason to worry. it's a delicate business. that ask why we have fomc. my guess it will not be too long. i could be wrong. this isn't exact science. my guess they're doing it right. liz: dr. schiller, you have the case-shiller index on housing prices across the nation. give us a read how you see housing industry. we got a good read out of housing, you think after having plateaued from a decent rise a year ago start to move up again? >> again it is speculative market. it involves a lot of different actors, not just u.s. but institutional and foreign now. nobody i think can really
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predict it. one thing historically shows a lot of momentum. not like the stock market. shows direction for years. it has, from the bottom, i think in real terms up 23%. that is a pretty good bottom in 2012. pretty good upward momentum. and, so i think that, that is nationwide. my gut would be to think that will continue. but i, you know, it is anybody's guess. david: robert schiller, yale university professor of economics. author of, finance and the good society. thank you for seeing you begin. thanks for coming in. >> my pleasure. liz: barnes and noble turning up the heat in the tablet wars with new nook married to samsung hardware. yes, could it be a amazon kindle killer or at least wounder?
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could it wound the kindle? i talk to barnes & noble ceo mike huseby in a fox business exclusive on the day of the launch. david: brutal beheading of american journalist by isis terrorists whether the u.s. has will to stop radical islamists in the middle east. we'll speak with a former u.s. ambassador. a lot of ties in the u.s. community. he will express their fear, and tell us what he can do about it. how about over there? what does it mean to have an unlimited mileage warranty on a certified pre-owned mercedes-benz? what does it mean to drive as far as you want... for up to three years... and be covered? it means your odometer...
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liz: time for quick speed read of day's other top headlines. five stories one minute. women make up nearly half of all gamers. according to the report by
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entertainment software association, about 41% of all -- 48% of all game players are female. google planning to offer cots to kids under 13 years old. the new system will let parents set up accounts for their kids and control how they use google services. getting them while they're young. twitter will remove video and images of deceased people at request of family members with exceptions that the images are newsworthy that they should remain on twitter. corona recalling beer after glass particles were found in 12-ounce bottles and six-pack and 12 packaged 18 pakistani president pervez musharrafages. empire foods recalling peanut butter and almond butter because of salmonella concerns. from trader joe's, whole foods, kroger and safeway. that is today's "speed read." david. david: videotaped beheading of an american by the terrorists over there who control a big chunk of the middle east now
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brings that war back home again. businesses from in the middle east from banks to retailers wonder who will stop terrorists taking over larger region which the u.s. lost a lot of respect and influence? marc ginsberg, peace works palestine ceo and former u.s. ambassador to morocco appointed by bill clinton, correct? >> yes something changed. the video was horrendous. beyond that, hit business community i know. a lot of people with business connections in the middle east whether bankers or retailers are beginning to rethink their positions because they don't see anything stopping isis now. what do you say? >> there is a legitimate reason to be concerned if you're a businessman working particularly in lebanon, particularly in iraq, if you are daring to go there which i obviously would not recommend.
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and particularly in qatar. why qatar? here is essentially a country a gas station with a flag but it has been a principle supporter of isis. it has fund ad great deal of radical islamist extremist organizations. more importantly it is spy central for extremist organizations, spying on american companies doing business. david: are there any buyers remorse on part of this country and people in it who have been defending these barbarians? go to the commerce department and state department, qatar is reasonable, reasonable ally because we have a fifth fleet presence in qatar. the fact of matter, david, a businessman, i spent 30 years doing business in the region. david: i know. >> you will have to pick and choose where you feel most comfortable. there are countries in the region that will be determined to good close allies of united
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states. number one place is united arab emirates. the emirates remains a safe valid ally of the united states where businesses are comfortable doing work there. david: do they, they don't have sections of the united arab emirates that defend isis, do they. >> on the contrary. the emirates is squarely defender of the and ally of united states where qatar has not. the too many businesses rushed into qatar without doing risknal is sis. almost like the chinese spying qatar. david: right. >> the qataris wind up having tentacles by extremist organizations. no the just because it is central place for funding these organizations, but just think about it. hamas's major operation middle east outside of gaza are based in qatar. david: unbelievable. i had breakfast this morning with a business consultant with a lot of business, multinational companies he deals with like unilever and others who have
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businesses in the region who deal a lot in the middle east. look, isis hit a place near jordan. they're hitting jordan, for god's sakes. >> and lebanon. david: how soon, there is no pushback, minor pushback, these bombings which have not done much to stop their advance, have they? >> david the biggest problem this administration is always late to the train when it comes to isis. we've understood from the moment that al qaeda declared isis to be too extreme inside syria, that it with not, we're not talking about a terrorist airer to. we're talking about a -- territory. this country has control over vast slots of territory. the president declared we need to provide relief to the refugees in the mountain, the king of jordan was on the phone with the president of the united states while on vacation, asking for help against isis. jordan, our number one ally. david: what did he tell them.
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>> don't worry. don't worry. isis won't get there. border towns on jordan attacked by isis. border towns in lebanon attacked by isis. david: bottom line, we have to wrap it with this, what would you tell businesses about holdings in the middle east? would you tell them retreat? stay there eventually these people will burn out or what? >> i will tell them they have to be very careful to pick and choose and listen tokes pert advice not just war where the business needs to stay but what business has to do in order to undertake the adequate risk analysis to assure, understand one, safety and security of their own people which is the most important thing. secondly to understand that businesses at thinkthis point in time are worried about businesses in the region on a. david: am bass do, thank you very much. liz, over to you. liz: book seller barnes & noble closes one chapter and a new one with samsung, unveil a brand new
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nook tablet. will it fire up sales with the battle royale with amazon? we have the ceo mike huseby in a fox business exclusive. this is not exactly one of the hot wheels we saw at the down cores day elegance but this three-wheeler could be a game-changer. we talk to the entrepeneur with this auto breakthrough. don't move. ♪ she's still the one for you.
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liz: the tablet industry just got a bit more interesting. it now has powerfully potential new player right here in my hands. this is an alliance between two big-name companies. i got exclusive interview with one of the men behind this brand new technology at the unveiling event today of this. take a look. you are looking at a warrior, the latest warrior in the e reader battle, only this one unveiled brand new today in hand hat an may be different, bringing two armies together, samsung and barnes & noble nook. in fox business exclusive we're talking to ceo of barnes & noble, mike huseby, samsung galaxy tab 4 nook. it's a long name. tell us what is does and how it will get me to switch over. >> the new nook by samsung.
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that is little easier. >> okay. >> what it has best of both worlds. has samsung leading tablet technology with barnes & noble leading reading experience. and it also is a full-featured, android tablet. extremely light tablet, 9.74 ounces. fully featured. has rear facing and forward cameras for video chat as well as taking photos or videos. it has a full suite of search capabilities. google play and gps. email capabilities. >> everybody who loves reading get as customized nook software within it, correct? >> that's correct. liz: what do i get out of that? you know people have their e-readers already. to make them switch just got to grab me somehow. >> right. this tablet is really customized for barnes & noble and customers and readers. the home screen, when you open this tablet, will show you your
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personal library. it will show you how to shop with nook, how to discover recommendations with nook and how to search for whatever you would like to read, whether it's a book, magazine, a video, a top tv show, and what we've done, is offered a $200 free content package. liz: $200? >> $200 free content package, including three best-selling books, three top-rated tv episode and a choice of four magazine subscriptions of top magazines as well as $5 cash credit. >> mike, who picked up the phone first, you guys or samsung and what was that conversation like? >> we've been very public for some time that we were looking at partnering for the production of our hardware. our real strength is providing reading experience and digital content for our customers. samsung's strength, their core competency is making world class
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tablets. so the first conversation i guess, probably was initiated by us but very quickly became a dialogue between the two of us. we were both very interested in doing this together. liz: okay. so i just punched this up, the james paterson book. obviously a very popular, best-selling author. he is also very vocal against amazon and the kindle, which is of course the big 800-pound gorilla in this fight. he is angry as are a lot of authors being undercut on prices. how do you guys smooth that over and make sure that there isn't negative feeling? >> what we're trying to do is make sure our customers get all the content in their hands, whether james paterson, whoever. we will not get involved with amazon's business issues. we set our own standards and always try to support the authors that, that are partners for us. liz: year-over-year the most recent quarter the business dropped more than 20%. how will this fix that slide?
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>> well, first of off, we haven't introduce ad new device other than our glow light, new color reading device in two years. introducing it with what we think is the very best tablet available for reading should drive digital content sales and also to drive more customers into your stores. liz: you guys have obviously this brick-and-mortar store in manhattan. a lot of them closed down. the one in my neighborhood in new jersey closed down. you have split the business. you're going to officially split the business. do you have a date on that? because you're splitting the actual retail business from the nook business? march? >> we have announced we're proposing a separation of our retail business from what is currently nook media and said that our anticipated timing would be sometime towards the end of the first calendar quarter next year. no firm date. liz: no firm date. what will that do for shareholders? and does it position the barnes & noble business for vail
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eventually. >> what it does for shareholders we believe we think it puts businesses with different growth profiles into different separate public companies, separate managements and given the opportunity to optimize shareholder value in total. retail is a very, very good, steady business. despite what pundits said about physical books declinings, we had flat core comp sales last year contending into the first quarter as we discussed. the college and education business which is nook media we think is poised for tremendous growth. the nook business we're rationalizing and we're stablizing. >> i tell you what is stablized? this has been on all day and it came on a single charge. it still has 53% of the battery power. this to me is impressive. not feeling warm and overheated. make no mistake, david, mike huseby and tim baxter of samsung electronics america want to be not just amazon but apple too by
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segmenting tablets, customized. david: i've been using a samsung. i'm not as happy with it as a lot of people are. in fact i prefer to have my old blackberry back but i've gone this way. how many applications are up with the current battery? liz: a whole bunch of them are open and we do have all the nook. what i find interesting interesting so much of nook part of it is really important here, but when i asked tim baxter of samsung what do you guys get out of this? in a way, we understand barnes and noble gets -- we hook up best in class with books. david:2% decline in revenue. -- 22% decline in revenue that is a big job. it is a car but only has three wheels but classified as a motorcycle. will americans buy? we talk to the founder of groundbreaking elio motors. liz: disappearing snapchat got a new gameplan as it books first revenue numbers with you will
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liz: watch out smart car maybe? there is new commuter in car, a three-wheel, $1600 american made elio. it gets, look at this thing. 84 miles per gallon and top speed of 100 miles an hour. david: pretty empress sieve. more than 2800 cars reserved,
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more than double the than tesla model x they can't produce fast enough. the founder is with us now. congratulations on the advanced order. you're much cheaper than the smart car. cost half as much as that does. that is slightly bigger car which is strange thing to say. everything is relative but the smart car has not done that well. only sold a little over 9,000 cars last year. why are your advanced orders so much more than that? >> well, look a couple things. first we're actually bigger than a smart in some ways. we have 110 wheelbase. we're longer than honda accord. it is a very long car but narrow. i think it is the value proposition. the premise of elio motors, people buy large vehicles for reason. they the large vehicles but buy an elio too. the price is low enough, mileage is high enough, keep the suv and minivan and buy elio.
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that i think is what is happening. >> get to the profile of your basic customer. who is buying this. >> tends to be wealthier individuals at this point because of the folks who can afford to put money down and wait a year before they see a product that skews to, wealthier individuals in the country. but we, and it is across the country. if you overlay our map of reservations to population almost tracks exactly. liz: we always love this story. the last time we spoke we pointed out, made in america. you're an entrepreneur. you are a scientists at heart, certainly that looking at something. why can't i do this. startup auto company is not easiest thing. what is the biggest challenge for you? >> i call it the "f" word, funding. it was harder to find the money to do it than figure out how to do a $6800, 80 mile-an-hour vehicle. that has come off very well so i
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think we're over the hump. david: we're looking at it drive in the snow. i imagine it can take the snow pretty well but you have to ask yourself about safety and, that would be the top concern. i mean manhattan cars don't get much faster than maybe 45 miles an hour but you have so many collisions because there is so many crazy drivers out there, not the least of which the cab drivers, how safe of a car is this in and what kind of things have you passed in order to prove that it is safe? >> so right now it is all simulation. we're getting ready to kick out prototypes and evaluate them individually. it has three airbags. front, two sides. seatbelts. electronic stability control. anti-lock breaks. passive, active safety features you find in a full-sized vehicle. liz: it is so cute. i love your new video. you dent have it before going through the snow. congratulations. getting marketing up to speed. paul, good luck. david: 6800 bucks. it's a cheap car. >> thank you. david: thank you very much.
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paul elio. good luck. forget reading the newspaper. could you get news from popular picture sharing app snapchat? who reads a newspaper these days anyway? we'll tell you about the new service they plan to roll out later this year. liz: have extra cash on hand and not spending it on down payment for a helio? how about heading to the mediterranean coast, what will be, look at that the most expense seven apartment when it is built. we have preview what this very high-end supercool real estate will look like. ♪ so i can reach ally bank 24/7, but there are no branches? 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates.
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there was like an i haderuption on my skingles. and burning. i'd lift my arm and the pain back here was excruciating. when i went to the doctor his first question was "did you have chickenpox?" i thought it was something that, you know, old people got. [ dog barks ] ♪ [ male announcer ] imagine the cars we drive... being able to see so clearly... to respond so intelligently and so quickly,
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they can help protect us from a world of unseen danger. it's the stuff of science fiction... minus the fiction. and it is mercedes-benz... today. see your authorized dealer for exceptional offers through mercedes-benz financial services.
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>> snapchat, that mobile app known for its vanishing messages is looking to bring its news content right to your view and to sell ad. could this idea turn the startup into somewhat after profitable company? which is always the problem with startups, right? what new features is snapchat looking to disappear next? david: we will see. joining us with details, jo ling kent. give us details. >> 24-year-old ceo evan spiegel
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may ask the most important question about snapchat, how is it ever going to make money? they plan to launch snapchat discovery in november. according to "wall street journal" this would show news content and ads what comscore say are 27 million users amount dozen tv companies and networks like the newspapers like "the daily mail" are being pursued by snapchat to provide this content. imagine, that disappearing news reports. this is the first time snapchat would roll out paid content of any kind. companies like grubhub, plus celebrities and athletes are connecting with their fans through direct snap. and the stories feature on snapchat. we can talk all day how this is such a lucrative space. according to a snapchat pitch obtained by digit day, users send 700 million photos and videos each day and check account 14 types daily on average. 50% of the users are between the age of 13 and 11 years old.
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rival messaging apps, lime, whatsapp, we chat and asia focused or global focused messaging apps are making money by charging fees or stickers and games. this would complete a recent rollout of a bunch features including direct messing a and videos. we'll stay tuned to what snapchat is offer. liz an dave. liz: thank you, jo. david: the world's most penthouse is here. not quite. goes on sale next year. where is it and how much will it cost? we have details straight ahead. liz: the most powerful coffee for the introducing superman to the world. there is the ebay site. get ready to dig pretty deep into your wallet. how much? we'll tell you when we come back.
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hard it can breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops.
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stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor about spiriva handihaler.
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liz: let's go off the desk. do you love comics? david: i do. >> how about superman? david: i prefer batman. >> original comic from ebay, the mint copy of action comics number one has passed $2 million. the auction still has four days to go. it was in this 193comic, there it is, 2.002.38 million, right? in this 1938 comic superman made debut as crime fighting clark kent. only 50 to 100 copies of this particular comic exist. but does it justify the seven-figure price tag? original copies sold 10 cents. david: i know he who is not buying it stan lee. he likes marvel. if you have an extra 400 mil this penthouse in monaco could be yours. it has a massive infiniti pool of course and own slide.
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and that is not all. the penthouse, reportedly most expensive apartment in the world will be at the top of the monaco coastline second tallest building once come appellated. in house caterer, 24/7 concierge and private chauffeur including in the price. liz: of course. you want the dollar stronger to stay there. whether you think the market is too optimistic about the fed rate policy. jo on twitter says the markets will rise until q1 or q2 of 2015. david: alan on twitter chimed in, very simple, very sell want. very eloquent, no. >> economists expect claims to rise to 300,000, down from the previous 311,000 gain. last week's claims were the highest since late june. david: "the willis report" is next. gerri, you're looking at another way that tsa is hitting consumers with fees. gerri: that's right, liz and
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dave, thanks for that. flyers overcharged on international fares because of failures for the tsa we'll tell you how agency bypassed warnings. coming today on the show, corona beer, there is surprise inside. the bottles may contain shards of glass. there is no more accurate way to check on car recalls. is your car on the list. new report on teen pregnancy. rates falling dramatically. we'll investigate the reasons why. "the willis report," where consumers is our business starts right now. gerri: we begin tonight with the ongoing violent protests taking place in ferguson, missouri. angry demonstrators have resorted to vandalism and looting and it is certainly taking a toll on businesses, not only in ferguson but neighboring towns as well. my next guest had his shop recently ransacked and burned by looters. it was all caught on camera. joining me now from ferguson is


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